IAS360 House Price Index Rises AgainMortgagePress.comdefault management, residential collateral valuation, appreciation and decline, House Price Index
Integrated Asset Services, LLC (IAS, www.iasreo.com), a default
management company and residential collateral valuation, recently
released its IAS360 House Price Index for July 2008. The monthly
report, which includes the most current and granular data available
in the industry, showed a 0.9% appreciation in house prices on a
national level in July, and a -11.4% decline from July 2007 to July
2008.
The IAS360 House Price Index is a comprehensive housing index
tracking monthly change in the median sales price of detached
single-family residences across the U.S. The index, based on all
arms-length transactions, tracks data at a "neighborhood" level,
which is then rolled up to report on the changes in 360 counties,
nine census divisions, four regions, and the nation overall. The
IAS360 House Price Index is delivered on a monthly basis.
"The IAS360 HPI is unique in that it's not a seasonally adjusted
or smoothed index," says Dave McCarthy, president and CEO of
Integrated Asset Services. "This combined with its timeliness and
granularity give lenders, investors and consumers a peek at the raw
changes in home price forecasts from the front lines."
At the broader census region level, results for July show three
out of four U.S. census regions experiencing gains in house prices,
with only the West region continuing to show a decline. On a
year-over-year basis, however, all four census regions are still
posting losses, the most notable being the West, the only region
with a double-digit decline.
Results for the month of July at the Census Division level
showed six out of nine U.S. census divisions posting gains during
July, but only two—East North Central, which posted the
largest jump in July, and West South Central, which posted the
largest declinehave appreciated year over year.
For more information, visit www.iasreo.com.
